The Importance Of Financial Literacy For Gen Z: Infobank Digital Road Show At Unair

SURABAYA Infobank Digital, which is part of the Infobank Media Group, held an Infobank Literacy Road Show 2024 with the theme "Gen Z Reflects on Finance, The Future Is Safe and Gets Cuan" at Cendrawasih Hall, Airlangga University (Unair), Surabaya, Friday, October 18, 2024.

Attended by hundreds of Universitas Airlangga students, this financial literacy activity was supported by PT Asuransi Intra Asia and PT Bank Mayapada Internasional Tbk, and collaborated with LPM Mercusuar Unair.

According to Apriyani Kurniasih, Director of Infobank Digital, financial literacy is very important for students. Given, students are faced with various financial needs, ranging from tuition fees, daily needs, and desire to have fun

"Having a strong understanding of finance can help students manage money wisely and achieve their financial goals," he explained, through an official statement received on Saturday, October 19.

He admitted that students dominated by generation (gen) Z showed significant financial literacy developments. Based on the latest trend in 2024, the level of gene financial literacy Z is estimated to be in the range of 45-50 percent.

Gen Z is more financial technology (fintech) than the previous generation. They use many applications for investment (such as stocks and cryptocurrencies), financial planning, and digital transactions," he explained.

However, said Apriyani, Gen Z still needs to better understand the basics of traditional finance, such as debt management, long-term planning, and understanding of interest and inflation.

"Therefore, financial literacy is very important for masis. Especially in making financial decisions, preventing debt, and can achieve financial independence," he said.

On the same occasion, Nurma Maulana, Marketing Manager of PT Asuransi Intra Asia emphasized the importance of insurance for millennials and Gen Z. This is because the risks that occur do not look at age. Part of Gen Z, who already has income, may think if insurance is not important considering that he is still young.

"However, they seem to forget that risks such as falling ill, having an accident, or losing a job do not look at age at all. So, self-protection in the form of insurance is equally important for gen Z," he said.

In addition, said Nurma, the protection obtained by Gen Z from his insurance will also be beneficial for his family. Ownership of insurance will make the family not burdened with possible costs if something unwanted happens to gene Z.

Another benefit that Gen Z can get by having insurance is to help manage finances. When participating in the insurance program, every month you are required to pay premiums. Without realizing it, this activity encourages students to better understand how to manage finances.

"Well, be aware or not that this action has helped regulate finances. You will understand more about how to manage finances, for example to pay insurance premiums, spending on necessities, and other things," he explained.

Nurma recommends the type of insurance needed by millennial generation and gen Z. First, there is life insurance. This product is an insurance type that carries an unexpected risk that is closely related to a person's soul.

"The purpose of this insurance is to protect a person's financial condition and stability when he dies and remains beneficial for the bereaved family," he said.

Second, general insurance. According to Nurma, this loss insurance provides services in dealing with risks for losses, loss of benefits, and legal responsibility to third parties. In this case, Intra Asia has many superior products suitable for gen Z. These include motor vehicle insurance, property, travel, pets to self-incurrency.

Lastly, health insurance. Getting sick is an unexpected occurrence. Hence, Nurma recommends Gen Z to have health insurance as an alternative to dealing with losses, especially in terms of finance when an unexpected situation occurs.

Seperti kamu tahu, biaya perawatan rumah sakit tidak murah dan pasti menghabiskan banyak biaya. Untuk itu, kamu perlu persiapan yang memadai, Intra Asia memiliki produk Asuransi Kesehatan Intras (Kumpulan) & Intra Shield yang cocok untuk gen Z, pungkasnya.